The Indian corporate landscape saw a flurry of major announcements spanning mergers, significant order wins, regulatory challenges, and strategic expansions across multiple sectors. These developments highlight the dynamic nature of business activities as companies position themselves for growth in the new year.

Major Merger and Acquisition Activity

Devyani International's board has approved a comprehensive Scheme of Arrangement involving Sapphire Foods India. Under this merger framework, Sapphire Foods will amalgamate with Devyani International effective from April 1, 2026. The transaction structure offers shareholders an attractive exchange ratio:

In the healthcare sector, Trident Lifeline strengthened its position by acquiring an additional 9.04% stake in Trident Mediquip for approximately ₹4.42 crore, demonstrating continued investment in the medical equipment sector.

Significant Order Wins and Contract Awards

Several companies announced substantial order victories that will drive future revenue growth. Bharat Electronics Limited emerged as a major winner, securing additional orders worth ₹569 crore since December 29. The diverse order book includes communication equipment, medical electronics, fire detection systems, and various upgrade services.

K2 Infragen achieved a landmark success by receiving a Letter of Acceptance for a ₹262 crore project from Indian Railways through its joint venture partnership. The comprehensive railway infrastructure project covers:

Other notable contract wins included Railtel Corporation securing a ₹56.71 crore order from Assam Health Infrastructure Development & Management Society and Ahmedabad Steel Craft receiving two contracts totaling ₹59.27 crore from Jharkhand Urja Sancharan Nigam.

Operational Milestones and Business Expansions

Olectra Greentech marked a significant operational achievement by commencing commercial operations at its new Greenfield Electric Vehicle Manufacturing Facility in Seetharampur, Hyderabad. The facility represents a major step in India's electric vehicle manufacturing capabilities:

Zomato and Blinkit achieved remarkable operational success on New Year's Eve, delivering over 75 lakh orders—an all-time high. The platforms maintained normal operations despite strike calls, accomplishing this milestone without additional incentives beyond standard New Year's Eve offerings.

Regulatory Challenges and Corporate Restructuring

Vodafone Idea faces a significant regulatory challenge with a ₹638 crore GST penalty from the Additional Commissioner, Central Goods and Services Tax, Ahmedabad. The company has indicated its disagreement with the order and plans to pursue legal remedies.

Several companies completed strategic restructuring initiatives. NLC India transferred seven Renewable Energy Assets to its wholly owned subsidiary NLC India Renewables on January 1, following a Business Transfer Agreement executed on October 31. Similarly, Indegene's step-down subsidiaries completed an amalgamation to form Indegene Healthcare Canada Inc.

Market Platform Migrations and Real Estate Developments

Achyut Healthcare achieved an important corporate milestone by receiving BSE approval to migrate from the SME platform to the Main Board Platform, enhancing market access for investors. In the real estate sector, Modis Navnirman secured the redevelopment contract for BOI Staff Sheetal Co-operative Housing Society in Mumbai, with an estimated Gross Development Value of ₹250 crore covering approximately 3,924.91 square meters.

Britannia Industries received a significant tax demand of ₹108.50 crore plus equivalent penalty from Chennai North Commissionerate, covering six financial years from 2018-19 to 2023-24, related to alleged incorrect input tax credit availment.

Markets began the first trading session of the New Year on a subdued note, ending almost unchanged as investors assessed various corporate developments. Analysts expect the Nifty to gradually emerge from its current consolidation phase, with a decisive breakout above 26,200 potentially paving the way toward the 26,500-26,700 zone. Several major stocks are in focus today due to significant news developments across different sectors.

ITC Faces Major Setback on Excise Duty Hike

ITC shares experienced their steepest single-day decline in nearly six years, crashing 10% following the finance ministry's notification of new excise duties on cigarettes. The new levy structure presents significant challenges for the tobacco major.

The new excise duties will be levied on top of the existing 40% GST, creating a cascading impact that analysts warn could lead to volume losses and significant pricing pressure for the company.

QSR Sector Consolidation: Devyani-Sapphire Merger

Devyani International announced a strategic merger with Sapphire Foods India, both operators of major quick-service restaurant chains in the country. This consolidation comes as the QSR industry faces challenging market conditions.

The merger reflects the industry's response to consumers cutting back on dining out and ordering in amid high living costs, which has impacted same-store sales growth and operational margins across the sector.

HUDCO Reports Strong Loan Sanctions

State-owned Housing and Urban Development Corporation demonstrated robust performance in its lending operations during the third quarter. The company's loan sanction achievements highlight strong business momentum in the housing finance sector.

HUDCO informed through a regulatory filing that these sanctions reflect the company's continued focus on supporting housing and urban development projects across the country.

Steel Sector Challenges: Tata Steel's Market Assessment

Tata Steel's leadership provided insights into the challenging market conditions faced by the domestic steel industry. CEO and Managing Director T V Narendran addressed employees at a New Year function, highlighting significant market pressures.

Key market developments include:

• Steel prices in India reached their lowest levels in five years during 2024
• Strong domestic demand and supply fundamentals remained intact
• Growing global trade disruptions created additional challenges
• Protectionist measures adopted by several countries impacted market dynamics

KPI Green Energy Expands Grid Connectivity

KPI Green Energy secured important regulatory approvals for expanding its renewable energy portfolio. The company announced approval to connect 32.40 megawatts of solar and hybrid projects to the main electricity grid, developed for clients through its subsidiary operations.

Analysts recommend maintaining a positive bias with a buy-on-dips strategy, particularly focusing on banking, auto, and metal stocks while emphasizing disciplined risk management in the current market environment.